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Indian rice export prices rose about 10% in recent weeks, with 5% white rice up at least $25 a tonne to about $490. Paddy shortages and weather concerns are driving the increase, and export demand has dried up as buyers turn to cheaper origins.
Higher Indian prices lift the global rice benchmark, but weak export demand may limit how long the rally lasts. Buyers are shifting to cheaper suppliers.
thehindubusinessline.comSubramani Ra MancombuJul 14, 2023After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
